Nike shares were down more than 10% in Friday’s midday session after CEO Elliott Hill stated that the company is still facing a “longer road to a healthier business” in China.
- Oracle shares were up more than 8% in Friday’s midday trade after China’s ByteDance struck a deal to sell TikTok’s U.S. operations to a new entity, TikTok USDS Joint Venture, which includes the company.
- CoreWeave shares were up nearly 20% in Friday’s midday session after Citi resumed the company’s coverage with a ‘Buy’ rating and a price target of $135.
- Intuitive Machines shares were up more than 30% in Friday’s midday trade, with the company expected to benefit from the Trump administration’s new space policy that supports private companies and long-term activity on the Moon.
U.S. equities traded in the green in Friday’s midday trade as Oracle shares jumped after China’s ByteDance signed a deal to approve the creation of a joint venture for TikTok in the U.S.
Nvidia Corp. (NVDA) shares gained over 3% after a Reuters report stated that the U.S. has launched a review of sales of advanced chips from the company to China.
The SPDR S&P 500 ETF (SPY), which mirrors the S&P 500 index, was up 0.83% at the time of writing, while the Invesco QQQ Trust (QQQ), which mirrors the Nasdaq 100 index, gained 1.16%. The SPDR Dow Jones Industrial Average ETF Trust (DIA), which tracks the Dow Jones Industrial Average, rose 0.54%.
Here are the top stocks making the biggest moves in Friday’s midday trade:
Nike Inc. (NKE)
Nike shares were down more than 10% in Friday’s midday session after CEO Elliott Hill stated that the company is still facing a “longer road to a healthier business” in China. In Greater China, second-quarter revenue declined 16% with Nike Direct falling 18% and Nike Digital down 36%.
NKE stock is down 22% year-to-date.
Oracle Corp. (ORCL)
Oracle shares were up more than 8% in Friday’s midday trade after China’s ByteDance struck a deal to sell TikTok’s U.S. operations to a new entity, TikTok USDS Joint Venture, which includes Oracle. Other members of the joint venture include Silver Lake and MGX, existing ByteDance investors, as well as ByteDance.
ORCL stock is up 16% year-to-date.
CoreWeave Inc. (CRWV)
CoreWeave shares were up nearly 20% in Friday’s midday session after Citi resumed the company’s coverage with a ‘Buy’ rating and a price target of $135, according to TheFly. The firm sees a “robust” demand outlook for CoreWeave.
CRWV stock is up 108% year-to-date.
Intuitive Machines Inc. (LUNR)
Intuitive Machines shares were up more than 30% in Friday’s midday trade, with the company expected to benefit from the Trump administration’s new space policy that supports private companies and long-term activity on the Moon.
On Thursday, Trump signed a sweeping space policy executive order, launching an ambitious blueprint to reinforce America’s dominance in space exploration, defense, and commercial development.
LUNR stock is down 22% year-to-date.
Rivian Automotive Inc. (RIVN)
Rivian shares were up more than 11% in Friday’s midday session after Wedbush raised its price target for the stock to $25 from $16, while maintaining an ‘Outperform’ rating, according to TheFly.
RIVN stock is up 69% year-to-date.
For updates and corrections, email newsroom[at]stocktwits[dot]com.<
